A competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates. competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates.
Only when the annuitant begins to withdraw money from the annuity, he has to pay tax on his gains. Annuitiy holders must be advised of the risks of deferred income taxes when they agree to accept an annuity contract. In the event of the death of the annuitant, the beneficiary is subject to tax.
Got it! Do I have to pay PA inheritance tax on Annuity & IRAs. My father passed away and I was named the beneficiary for 50% of the value on 4 non-qualified annuities and 1 CAP IRA. I rolled over my death claim payment from the CAP IRA into a beneficiary IRA and rolled over most of the non-qualified annuities into my own annuity account. Since I rolled over the majority of the death claim payments into investment accounts, do I have to pay PA inheritance tax? + Read More.